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NCLT approves Kalyan Toll s resolution plan for Lanco Hoskote Highway
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The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project.
The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project. The Lanco Hoskote Highway L (LHHL) project will be the first national highway asset to change hands through the corporate insolvency resolution process mechanism.
The tribunal’s Hyderabad bench has approved the proposal submitted to it by the company’s committee of creditors comprising State Bank of India and Edelweiss Asset Reconstruction Company. It includes an upfront payment as well as deferred payments till March 2022. The Indore-based Kalyan group h
The Board of Tilaknagar Industries on 24 April 2021 has approved allotment of 1,39,03,752 equity shares of Rs 10 each to Edelweiss Asset Reconstruction Company at an issue price of Rs 24.36 per share towards conversion of part of the debt owned to it by the company amounting to Rs 33.86 crore into equity shares of the company on preferential basis.
Post aforesaid allotment, the paid up capital of the company is Rs. 1,39,33,83,550 divided into 13,93,38,355 equity shares.
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